Parliamentary Finance: deteriorating economic conditions disrupted deletion of zeros
Parliamentary Finance: deteriorating economic conditions disrupted the deletion of zeros from currency
Special - scales News - Ruled out the parliamentary finance committee member Abdul Qader Mohammed, on Wednesday, the application of a draft resolution to delete the zeros of the Iraqi currency during the coming period due to the deteriorating economic conditions experienced by the country, noting that he can not determine the time of application of the project unless stabilized the security and economic situation in Iraq.
Said Mohammed's / scales News / "The project to delete the zeros of the Iraqi currency will help to use the currency are the biggest," noting that "the difficulty of the application of this project during these economic conditions experienced by Iraq."
He said the parliamentary finance committee member, said "money inflation in the Iraqi market with the economic downturn currently lead to the descent of the currency rate to hit the country's economy," adding, "it was postponing the process of deleting the zeros to settling the Iraqi currency put the Iraqi economy in a stable and good condition."
The "Committee for Economy and Investment parliamentary member Ahmed Salim Abdul Rahman said, earlier, that the deletion of zeros from the local currency is not appropriate at this time, especially in the big decline and deterioration in the economic conditions of the country."
It is worth mentioning that the "economic expert Abdul Hassan al-Shammari said, earlier, that the draft deletion of zeros from the local currency stopped by the House of Representatives in 2010 due to legislative differences within the parliament," noting that "print local currency Iraqi government cost $ 250 million annually ".anthy 29 quarters